From Realtor Magazine Online, Daily Real Estate News March 12, 2009
The number of houses in some stage of foreclosure rose 30 percent in February compared to a year ago, and increased 6 percent from January 2009, according foreclosure marketer RealtyTrac.
Nationwide, a total of 290,631 properties were involved in a foreclosure filing, which is equivalent to one in every 440 U.S. housing units, RealtyTrac reported.
"The increase in foreclosure activity from January to February is somewhat surprising, given that many of the foreclosure prevention efforts and moratoria in place in January were extended through most of February as well," said James J. Saccacio, CEO of RealtyTrac.
Foreclosure rates were highest in Nevada, Arizona and California, followed by Florida, Idaho, Michigan, Illinois, Georgia, Oregon, and Ohio.
States with the highest number of homes in foreclosure were California, Florida and Arizona, followed by Nevada, Illinois, Michigan, Ohio, Texas, Georgia, and Virginia.
Sunbelt cities posted the top foreclosure numbers, led by Las Vegas where one in every 60 homes is in foreclosure, and Cape Coral-Fort Myers, Fla., with one in every 65 homes in foreclosure.
The rest of the top 10 were with one exception, all in California: Stockton (one in 67 housing units), Modesto (one in 68), Merced (one in 74), Riverside-San Bernardino (one in 80), Bakersfield (one in 85), Reno-Sparks, Nev. (one in 108), and Vallejo-Fairfield at No. 10 (one in 111).
Source: RealtyTrac (03/12/2009)
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